AngloGold Ashanti Ltd. (AU) saw a big move last session, as the company’s shares fell nearly 16% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AU, as the stock is now down about 28% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the gold mining and exploration company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
AU currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0%.
Some better-ranked stocks in the same sector include Pretium Resources Inc. (PVG), Golden Star Resources, Ltd. (GSS) and Dominion Diamond Corporation (DDC). While Pretium Resources holds a Zacks Rank #1 (Strong Buy), Golden Star Resources and Dominion Diamond carry a Zacks Rank #2 (Buy).
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